Alphabet discloses $548 million worth of Qualcomm stake

Alphabet said on Friday it held nearly 3 million shares, or a stake worth $547.9 million, in chipmaker Qualcomm as of September.

Qualcomm shares rose more than 3% in premarket trading.

The Google parent has also increased its position in Elon Musk’s SpaceX to about 555 million shares from 551.2 million earlier.